<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF ROWAN COMPANIES, INC. FOR THREE MONTHS
ENDED MARCH 31, 1996 INCLUDED IN ITS FORM 10-Q FOR THE QUARTERLY PERIOD THEN
ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                          85,101
<SECURITIES>                                         0
<RECEIVABLES>                                   91,771
<ALLOWANCES>                                         0
<INVENTORY>                                     80,334
<CURRENT-ASSETS>                               279,571
<PP&E>                                       1,262,159
<DEPRECIATION>                                 774,199
<TOTAL-ASSETS>                                 808,428
<CURRENT-LIABILITIES>                           81,133
<BONDS>                                        247,664
<COMMON>                                        10,811
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     422,153
<TOTAL-LIABILITY-AND-EQUITY>                   808,428
<SALES>                                         34,195
<TOTAL-REVENUES>                               126,808
<CGS>                                           27,732
<TOTAL-COSTS>                                  120,514
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               6,700
<INCOME-PRETAX>                                  2,482
<INCOME-TAX>                                       125
<INCOME-CONTINUING>                              2,357
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     2,357
<EPS-PRIMARY>                                     0.03
<EPS-DILUTED>                                     0.03